Shanghai (ZXZC)-On Nov. 29, Changan Automobile announced that it signed a strategic cooperation agreement with Ping An Bank and China Minsheng Bank in Chongqing on Nov. 28. 

According to the agreement, Changan Automobile will integrate industrial and financial resources to establish strategic partnership with Ping An Bank and China Minsheng Bank. Under the purposes of collaborative development, mutual benefit, resource sharing and advantage complementation, Changan Automobile plans to build an investment platform with Ping An Bank and China Minsheng Bank. Changan will also raise auto industrial funds up to RMB 100 billion to deploy the new auto industrial chain, including new energy, intelligent vehicle, sharing mobility and auto finance, etc, aiming to fund its Shangri-La plan.